The Group net profit up by 38.2% compared to 2016.

The Group net profit up by 38.2% compared to 2016.

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Mag. Linda Michalech
Corporate Communications Manager

Sberbank Europe AG
Tel.: +43 1 22732 1300
Mobile: +43 664 8891 3662
linda.michalech@sberbank.at

Sberbank reports Net Profit of RUB748.7 bn (EUR10.9 bn) as of YE 2017 (IFRS)

Sberbank has released its Annual consolidated IFRS financial statements as of 31 December 2017, with audit report by AO PricewaterhouseCoopers Audit.

The 2017 Financial Highlights:

  • The Group net profit reached RUB748.7 bn (EUR10.9 bn), up by 38.2% compared to 2016.
  • The Group earnings per share (EPS) came at RUB34.58 (EUR0.5), up by 38.3% compared to 2016.
  • The Group annualized return on equity (ROE) reached 24.2% p.a., compared to 20.8% a year ago.
  • The Group annualized return on assets (ROA) reached 2.9%, up from 2.1% a year ago.
  • Net fee and commission income grew 12.9% y/y to RUB394.2 bn, driven by operations with bank cards.
  • The Group gross loan portfolio increased by 6.6% in 2017 to RUB19.9 trn, with retail loans growing by 13.6% to RUB5.7 trn, led by mortgages portfolio growth of 16.0% for the year.
  • The Group’s common equity Tier 1 capital adequacy ratio under Basel III standard reached 11.4% by the end of the year, up 120 basis points.

The Q4 2017 Financial Highlights:

  • Sberbank’s net profit reached RUB172.4 bn, or RUB8.1 per ordinary share, for the quarter, up by 21.6% compared to Q4 2016.
  • The quarterly cost of risk (CoR) came at 149 basis points, up by 29 bps compared to Q3 2017. CoR of the corporate portfolio increased by 44 bps to 184 basis points compared to Q3 2017, while CoR of the retail portfolio decreased by 10 bps to 58 basis points as compared to Q3 2017.  
  • Client deposits increased by 3.4% to RUB19.8 trn in Q4 2017 compared to Q3 2017. Retail deposits grew by 4.9%, while corporate deposits were up by 0.5% during the quarter.

You can read the full press release published by Sberbank of Russia on the website.

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